Data Vantage | Agrocorp, Ideation3X, Tjufoo, Eruditus and ShopBack report updates
Edition #342, 25 January 2024
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Singapore-headquartered agricultural commodity firm Agrocorp International Pte allotted shares worth [redacted] million to its founders and executives this week.
The family business specialises in the processing and sale of staples such as wheat, pulses, and rice to food manufacturers in the Asia-Pacific and Middle East. In August last year, Agrocorp launched its plant-based cheese, HerbYvore, which it claims is Singapore’s first plant-based, nut-free cheese. It has also partnered with one of Japan’s largest dairy companies to start a manufacturing facility in Malaysia by 2025 to produce soy-free plant protein.
The company has previously secured debt financing from development finance institutions such as International Finance Corporation and Dutch lender FMO, as well as Rabobank. It claims to generate annual revenue of over $3 billion.
Singapore-based circular economy platform Ideation3X, which is targeting the integrated solid waste management sector in India, has raised additional capital from Mizuho Bank in Series B funding.
The company, which is backed by Japanese private equity firm Unison Capital Group, had secured $10 million as part of the same round from Yokogawa Electric Corporation in January last year.
Founded in 2017, the company collects, sorts, treats and recycles solid waste and converts the rest into fuel using patented technologies.
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Other updates from DATA VANTAGE
Indonesia-based brand aggregator Tjufoo allotted shares worth [redacted] million to investors, including PT Binus Investama Indonesia and Evolve Capital Management, this week.
Indian edtech unicorn Eruditus narrowed its losses by 67% in the twelve-month period ended June 30, 2023, its latest regulatory filing shows. The SoftBank-backed company’s revenue surged 1.65x during the period.
Singapore-based shopping and rewards platform ShopBack’s losses ballooned 14.5% in the financial year ended March 31, 2023. The Temasek-backed company’s revenue shrunk by 20% during the period.
Medtech startup AWAK Technologies received $285.5k from investors, including an affiliate of Singapore-based [redacted], last week.
Health food chain SaladStop! got a fresh capital infusion from venture capital firm East Ventures this week.
As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits
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